What is meant by satisfactory insurance coverage?
The Division of Risk Management, Department of Administration, State of Alaska, requires that all recipients of financial assistance from state agencies must have appropriate insurance coverage prior to the start of any project. Typically, the minimum insurance requirements are for Workers’ Compensation for all employees engaged in the project, Commercial General Liability insurance of $300,000 combined single limit per occurrence or split limits of $300,000 per person / $500,000 per occurrence, and Commercial Automobile Liability insurance of bodily injury liability of $300,000 combined single limit per occurrence or split limits of $300,000 per person / $500,000 per occurrence, and $50,000 per occurrence of property damage liability limits. The Commercial Automobile Liability insurance shall cover all owned, hired and non-owned vehicles.
